27 March 2003 13:19
Gowlings and CO2e.com join forces to help Canadian industry prepare for a carbon-constrained future
TORONTO, March 27 /CNW/ - Gowling Lafleur Henderson LLP (Gowlings), a leading national law firm with one of the
country's strongest Environmental Practice Groups, and CO2e.com (CO2e), a leading international greenhouse gas
advisor and broker, have joined forces to provide a comprehensive service advising Canadian businesses on how to address
the significant climate change issues associated with the Kyoto Protocol (Kyoto). Kyoto was ratified by Canada after a
passionate debate in the House of Commons. Experts on all sides of this issue believe that compliance with the protocol
will have significant effects on Canadian industry. Under Kyoto, greenhouse gas (GHG) emissions will have an enterprise
cost, while GHG emission reductions may have an asset value. Now is the time for each of the nine industry sectors
defined in Canada's Climate Change Plan as large industrial emitters, to identify and monetize GHG assets and
liabilities in order to maximize value and minimize risk. If a proactive approach to GHG emissions management is not
taken, emission caps or regulations may constrain the future viability and growth of business. Those who act early and
incorporate climate change as an integral part of business planning may enhance their competitive position in the
future. The Gowlings and CO2e team will help companies to chart a course for contributing to Canada's Climate
Change Plan. "The Canadian government's ratification of the Kyoto Protocol means that Canada will be
responsible for reducing annual greenhouse gas emissions by six per cent below what we were emitting in 1990," says
Mark Madras, Leader of Gowlings' Environmental Law National Practice Group. "Now is the time for industry to
consider carefully how it will respond to this challenge." "Canada's Climate Change Plan envisions a
number of emission reduction strategies for industry through negotiated agreements, market mechanisms and targeted
measures," says Corinne Boone, Managing Director (Americas), CO2e. "Large industrial emitters will be afforded
flexibility through a domestic emissions trading regime with access to domestic permits and offsets as well as
international market mechanisms, and we have the resources to help organizations navigate through this new system."
Gowlings and CO2e professionals can advise companies on: - GHG emission reduction regulations - Emission permit and
offset trading - National and international GHG market analysis and opportunities - Research and development project
funding - Infrastructure investment and public/private partnership agreements - Information programs, fiscal incentives,
regulations and tax measures About Gowlings Gowling Lafleur Henderson LLP (Gowlings) is one of Canada's leading
diversified business and technology law firms, with more than 100 years of success in employing specialized knowledge
and vigorous thought to create practical legal solutions. Gowlings is at the leading edge in new fields such as
technology and intellectual property, providing comprehensive legal solutions, in English and in French, to clients in
Canada, the United States and overseas from offices in Montr Deal, Ottawa, Toronto, Hamilton, Waterloo Region, Calgary,
Vancouver and Moscow. The firm also offers specific expertise concerning transactions in the United States, Mexico,
Latin America, the Pacific Rim, Western Europe and the Commonwealth of Independent States. About CO2e Officially
launched in November 2000, CO2e draws on an international team of transaction specialists and marketplace technology
experts to provide strategic market and brokerage services related to greenhouse gases, renewable energy and other
environmental products. These specialized services include environmental brokerage, missions neutral solutions, trading
and risk management tools, and strategic market and consulting services. CO2e is a subsidiary of the Cantor Fitzgerald
group, one of the world's leading brokerages, and is also partially owned by Mitsui & Co., Ltd., one of the
world's largest trading houses. A multi-national enterprise, CO2e has offices in London, New York, Toronto and
Tokyo and asserts a strong online presence at www.CO2e.com. About Cantor Fitzgerald Cantor Fitzgerald is a financial
services firm with operating units that are involved in a variety of market-based business initiatives. From its
position as a leading financial intermediary in the equity and fixed income markets, Cantor has expanded the scope of
its business to include investment banking, energy brokerage, telecom brokerage, CO2 emissions trading and electronic
trading technology. Cantor brings its experience and expertise in the financial markets and its legacy of innovation in
technology to benefit institutional investors and traders around the world. For the next five years, Cantor Fitzgerald
will share 25 per cent of its profits with the families of the Cantor, eSpeed and TradeSpark colleagues that were lost
on September 11, 2001. These are profits that would have otherwise been distributable to the partners. These
distributions will cover 10 years of health insurance costs for all families and provide each of those families with an
additional minimum payment of $100,000 each. For more information please visit www.cantor.com
VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: http://www.newswire.ca/cgi-bin/inquiry.cgi?OKEY=58495
http://www.newswire.ca/cgi-bin/inquiry.cgi?OKEY=67621 /For further information: Lisa Lupynec/Adrienne Simic, Media
Profile, (416) 504-8464/
[CAIW [Corporate Announcements Intelligence Wire]] |
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